Coinbase CEO Armstrong Compares Crypto Settlement With U.S. T+1

Coinbase CEO Brian Armstrong contrasted the possibility of immediate crypto settlement with the one-business-day timetable for most U.S. securities trades, highlighting the interval between a trade and its final completion.

Settlement is the step when a transaction is completed after a trade has been agreed. The T in T+1 refers to the trade date; +1 means settlement takes place one business day later.

Most U.S. securities trades have followed T+1 since May 28, 2024. The previous standard was T+2, meaning settlement took place two business days after the trade date. The change shortened the standard cycle by one business day.

For example, a securities trade made Monday under T+1 generally settles Tuesday if both days are business days. Under the former T+2 cycle, it would generally have settled Wednesday.